NEW YORK, Aug. 11, 2014 /PRNewswire/ -- As consumers spend an increasing amount of time on their mobile devices, advertisers are also making the transition towards mobile as well. After less than a decade of existence, smartphones and tablets this year are expected to draw more money from advertisers than older forms of media such as newspapers and radio. However, television and internet ad revenue are both still expected to exceed mobile, newspapers, and radio ad spending. According to research firm eMarketer, mobile advertising is expected to increase 83% in 2014 to nearly $18 billion. Meanwhile, Gartner Consulting – an information technology research and advisory company – sees this market reaching $41.9 billion by 2017. One firm that has been at the forefront of this rapidly growing sector is Millennial Media.
Millennial Media, Inc. (NYSE: MM) provides mobile advertising solutions to advertisers and developers in the United States and internationally. The company's technology, tools and services help developers maximize their advertising revenue, acquire users, and gain insight about their users. Separately, MM offers advertisers significant audience reach, sophisticated targeting capabilities, and the ability to deliver rich and engaging ad experiences to consumers on their mobile connected devices. Put simply, advertisers pay MM to deliver their ads to mobile users, while MM pays developers a fee for the use of their ad space.
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